Invest in companies with FOREX on Islamic law perspective

Forex (Foreign Exchange) or more commonly known as the Foreign Currency Trading: It is a type of commercial / trade transactions of a country's currency against the currencies of other countries involved major currency markets in the world for 24 hours continuously.

True, it is FOREX currencies is required, but subject to the extent to which it is in accordance with guidelines issued from the hadith of the Prophet sohih. Namely: -

a-Changed (delivered and received) in the same time it is mentioned in the hadith as "bi yadan yadin. In the English language is "on the spot basis." It came many hadiths of the most important are: '

الذهب بالذهب , والفضة بالفضة , والبر بالبر , والشعير بالشعير , والتمر بالتمر , والملح بالملح , مثلاً بمثل , سواء بسواء , يداً بيد , فإذا اختلفت هذه الأصناف فبيعوا كيف شئتم

Which means: Gold with Gold (convertible or traded), and silver for silver, wheat with wheat, dates, the dates, salt with salt should be the same weight, dosage, and converted directly (at a time) and if a different type, then sell-buy as you liked "(Narrated by Muslim, Hadith no 4039 no, 11 / 9).

b- The Prophet said: -

فإن رَسُولَ اللَّهِ قال الْوَرِقُ بِالذَّهَبِ رِبًا إلا هَاءَ وَهَاءَ

Which means: Allah's Messenger said: Swap between silver and gold is usury except if it is done simultaneously (delivery receipt at a time) "(Narrated by Muslim, no 1586, 3 / 1209)

c-The purchase of the debt from one of the two parties is forbidden by hadith: -

نهى رسول اللَّهِ عن بَيْعِ الذَّهَبِ بِالْوَرِقِ دَيْنًا

Which means: "Allah's Messenger forbade the sale of gold and silver in debt" (Narrated by Al-Bukhari, no 2070, 2 / 762)

Hadith on Islamic mention of discipline in exchange of gold and silver. For information, scholars agree that the currency (bank note) is the discipline of gold and silver because of the value and functions as the medium of exchange ". Thus each discipline and conditions of transactions involving gold and silver are also applicable to currency transactions. Such decisions the Fiqh Council of an International and the International Islamic Finance Council of the AAOIFI.

FOREX currency managed by conventional companies certainly will not take care of this condition as most FOREX carried out by conventional institutions are "Forward Forex or Forex using 'Value Forward' (the future), which belongs to the Riba nasiah. They also frequently use the SWAP, Options and other derivatives that are forbidden in the Shariah perspective.

Instruments just do not meet the delivery receipt or Islam called "qabadh" in Islam in a true "pure" or "hukmi" at the same time. FOREX is a problem in the implementation of accepted the submission of both parties. When the aqad become void (Radd ala al-Muhtar Google, Durr, 4/531).

I do not deny that there are some Islamic Financial Institutions that do forex after obtaining their approval of the Shariah Advisory Council, but all they are only involved in the FOREX SPOT type instead of 'Forward'; But if it uses the concept of forward Al-wa'd or unilateral Promise and it was agreed should. Indeed the Shariah Council they have put some conditions and not simply free.

Thus INVESTED CAPITAL (meaning you invest and then wait PROFIT ONLY) and in the conventional financial institutions to obtain profit through FOREX is not lawful in Islam.

It is the result of global Shariah Advisory Panel under the auspices of the name Accounting & Auditing Organization for Islamic Institutions (AAOIFI). Among the panel of Shariah adviser is Sheik Mufti Taqi Othmani font, Assoc. Dr. Sheikh Wahbah Zuhayli, Assoc. Dr. Dharir Siddiq Sheikh, Sheikh Abdullah al-Mani ', Dr. Abdul Sattar Abu Ghuddah, Sheikh Dr. Nazih Hammad, Sheikh Dr. Hussain Hamid Hassan, Sheikh Nizam Ya'quby, Dr. Mohd Daud Bakar, Sheikh Al-Sadiq al-Ayashi Faddad, Sheikh Dr. Ajil Nashmi and many others.